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of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of the year. no formal talks between the two sides are scheduled today. will go outside the nation's capital to get your voice involved. republicans -- democrats -- independents -- send us a tweet, post your comments on facebook, or send us an e-mail. we begin with some of the papers across the country today and how this latest proposal from house republicans is playing out in the papers. courtesy of "the atlantic journal-constitution" -- here is "the denver post" -- finally, here is "of the arizona republic" -- here is "the washington post" on what is inside this deal -- we want to get your take on this. what do you think? ted in new york, a democratic caller. what do you think? caller: good morning. i do n
for tax reform, grover norquist. he is the person who got some members of congress to sign a pledge to not sign taxes. a number of republicans said they are willing to vote for a tax increase. this is just under an hour. >> thank you for coming out. two weeks in a row, thank you very much for coming out and we will have another one next wednesday and we appreciate you being here. grover norquist, president of americans for tax reform. people who are following us on twitter, just tweeted, we'll take your questions. we want to thank the bank of america for supporting these series. the forum is about issues that matter most in washington. last week, how the obama campaign won and today we will talk about very important issue for conservatives and republicans, the path forward for them and their party. we appreciate bank of america's partnership including at both of the conventions. and we are going to bring you into the conversation. you got cards. we would love to take your questions and also be getting questions as they call it on "morning joe"," the twitter machine. we would love to
again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues a stern warning to syria and i quote the world is watching. and there will be consequences if syria uses these wmds. have we just committed ourselves to another war? and the gun control debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good evening. >> reporter: good evening. leapt me walk you through the specifics or at least what specifics we have so far from this boehner counter offer and you can see where it falls short from the white house's perspective right in the top line take a
tom call who suggested he and his gop colleagues should renew middle-class tax cut and allowed the top tax rates to let -- rise. tonight, we speak from -- hear from speaker boehner, house democrats, and president obama on the so-called fiscal clef. later, alan simpson and erskine bowles talk about some of the fiscal choices facing congress. >> the program began under one of the advisers to president franklin roosevelt to document the conditions under which people were living. this was back when we did not have television. we had radio, but a lot of places did not have electricity, so they could not listen to the radio broadcast to find out what was going on in other parts of the country. he was an economist from columbia university. he was the head of this project. in 1939, when kodak introduced color film, they sent him to have his photographers try out, see what they could do. kodak was trying to establish a new market and product, and they wanted people who would know how to use it effectively to try it out and publicize it. >> america in the 1930's and 1940's -- the library of cong
capital gains rate in the a.m.t. is higher than the regular tax rates from incomes around $200,000 to $500,000. and that was the first broad expansion of the a.m.t., it began to hit an awful lot of people. then in 2001 they reduced regular tax rates but did not reduce a.m.t. tax rates. . for many people, the a.m.t. tax bill only changed the name of the tax i paid. i got little benefit from the rate ofin my opinion, the expand on tax has nothing to do with the action of indexing. it is the result of the conscious decision to hike the cost of tax reductions. >> the alternative minimum tax is 28%. if your tax rate was lowered to 25%. you still have to pay 28%. >> that is correct. for incomes between to london thousand dollars and $500,000, the effective tax rate is 35%. you hit the 35% rate and incomes fire lower than the income levels at which you would hit the 35% rate and regular tax. >> why do they call it a patch? >> it is a one time year by year patch to stop the broad expansion. you could ask why they call it a cliff. they have discussed this in terms of the patch. it is a
is a possibility we could come back in january and say we will reinstate those tax rates for everybody except those people making more than $250,000. host: we have about 30 seconds. the likelihood these credits will be reduced. guest: it will be a crapshoot. host: steven sloan from politico. thank you thank you. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] the prayer will be offered by our chaplain, father conroy. cap hehn conroy: let us pray. loving and gracious god, we give you thanks for giving us another day. help us this day to kragh closer to you so that with your spirit and your presence among us we all must face the tasks of this day. bless the members of the people's house. help them to think clearly, speak confidently and act courageously in the belief that all noble service is based upon patience, truth and love. you know well the pressing issues facing our nation. grant our leaders, especially, the wisdom to do what is best and may we all join in the common will for the benefit of all constitu
percents of americans to pay more in tax after having 12 years of a special tax break, which was only supposed to be temporary. if you say yes vote for me. mitt romney says, no, we are going to caudle, protect that top 2%. we are not going to raise their taxes. so if you say no, vote for me. that was a choice. the american people overwhelmingly, overwhelmingly, margin of 5 million, voted for president obama. john boehner is acting as if we never had an election in the first place and the election doesn't mean anything. is the senator has passed a tax break and john boehner is saying no, we will let 98% of americans pay $2,000 more in taxes. we will give a tax increase. we will raise taxes on 98% of americans unless you give us another tax break for our buddies and millionaires and billionaires, the top 2% in the country. you can't blame even mitch mcconnell any more. it's john boehner who is standing in the way. he did so again the republicans give this babble. the president says what's your plan? what do you want to cut? close loopholes. what loo
house deficit reduction package. later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. tomorrow on ", washington "" robert -- "washington journal," robert van order on the mortgage loan forgiveness. adult'eman on being an with autism. plus, your emails, phone calls, and tweets. >> c-span, created by cable companies and venture 1979, brought to you as a public service by >> president obama talked about the so-called fiscal cliff and his proposal to end the bush era tax cuts. he spoke at a manufacturing facility in hatfield, pennsylvania, for about 25 minutes. >> thank you! [cheers and applause] >> well, good morning, everybody. everybody, please have a seat, have a seat. relax for a second. it is good to see all of you. hello, hatfield! it is good to be back in pennsylvania and it is good to be right here at connects. i want to thank michael airington and the inventor of connects, joel glickman, for hosting me today. where'd they go? stand up so everybody can see you guys. there you go! i just noticed, we got a couple of outstanding members of congress here. chaka
of the republican party today. with senator demint speaking on the idea that $800 billion of tax increases were offered. but he got the backing of mitch mcconnel. take a listen to what he had to say. >> i think it sis important tha the house leadership is trying to mov move it forward. i had hoped that we would be accomplishing more in the real talks. but i can tell you, there is nothing going on privately that is not going on publicly. even as he has to deal with this rebellion. he has to deal with democrats and harry reid's comments today give you a sense of where they are coming from. >> they have to come up with specific revenue. and they refuse to do that. it is a simple question of arithmetic. you can't get from here to there unless you raise the rates. so as you know in washington, a rebellion in the ranks like this could be a problem. but in the spohort-term, if it remains constrained. it could be a good negotiating term. he could say i have offered everything that i have and still get this thing passed. you know, i never hear the discussion about spending. i'm not saying you. it is abo
that the republicans accept a hike in the marginal tax rate for those with income over a quarter million dollars a year. my view? obviously i agree with the white house on the substance and as i have said before, their hand gets stronger over time. but sometimes a new idea can change the dynamic. here is an idea that has been around for a long time, supported by james tobin way back and pushed by ralph nadar in a "washington post" op-ed this weekend. impose a tax on financial transactions. it will give us up to $100 billion a year, fail on a sector that has generateed enormous unwarranted profits for very few but benefited from huge bailouts the regulatory help but by and large escaped responsibility for their role in the financial cataclysm we're still struggling with. with me, dan gross author of "better, strong, faster." and brian beutler and eric bates. what's your take on this? how severe will the harm be to the economy if we do not have a deal by december 31st. >> the macroeconomic harm is not going to be that great. our economy is adaptable adjustable. these things take place over the course of
. president obama with a big kind of pep rally at the white house to push those tax cuts for the middle class and republicans on capitol hill saying no, no, no, we hate the middle class. come on. let's give tax cuts to the rich! the millionaires and the billionaires, to the koch brothers and donald trump. we'll bring you up to date and give you a chance to sound off on the issues which i know you can't wait to do. you can do it by giving us a call at 1-866-55-press. you can join the conversation on twitter at bpshow on facebook, facebook.com/billpressshow. and if you really want to get into it with your fellow "full court pressers," go into the chat room. try it out. it is a lot of fun. go to current.com and click on the chat room and you are in! here we are. lucky day. thursday november 29 for somebody. >> it wasn't that lucky. you're still here. peter ogborn and dan henning good morning guys. leading team press with phil backert and cyprian bowlding. cyprian and i had our powerball tickets. we were ready, we were
dollar deficits throughout that time. tax policy hasn't changed during that time. tax policy is exactly the same. you hear in the newspaper all the time, mr. speaker, the bush tax cuts. i don't know that that has meaning anymore. in 2001 and 2003 we did do some dramatic changes to tax policy. president obama extended all of those changes in 2010. that's the law of the land still today. tax policy has been exactly the same over this continuum. what has changed, mr. speaker, what has changed is the spending. the reason deficits have grown not one, not two, not three but almost four times larger than the previous record deficit in american history is not because tax policy has changed, it hasn't. it's because federal spending policy has changed. and that's what we have to get our arms around here in this body. what i show going forward, mr. speaker, put a little square around the annual budget deficits that have been run during the first four years of the obama administration, but i also project what the congressional budget office believes, that's a nonpartisan budget planning group we ha
in case. just waiting for the chance to use it to sign the bill to make sure people's taxes don't go up. >> the adult in the room continues his campaign to cut taxes for the middle class and john boehner keeps shooting spit balls. the latest on the stalemate and the democrat's upper hand. >>> mitch mcconnell gets ridiculous with his demands to weaken medicare. one of the architects of obama care responds tonight. >>> house republicans pass an immigration. bill democrats say is divisive and inferior. tonight, congressman javier pasara on why the latino community won't. be fooled. >>> the first fast food strike is historic. what you need to know about the lowest-paid workforce in the country. good to have you with us. thanks for watching. president obama knows his opponent is on the ropes and he's not letting up. the president took his tax plan agenda on the road today. he e went to a pennsylvania toy factory to focus on the people who will be hurt if the tax rate extensions are not passed for the 98% of americans. >> if congress does nothing, every family in america will see their income
. and of course everyone, everyone deserves a $250,000 tax break. we all agree on that. so why not just simply adopt it and then come back and we'll have time to address the issues as it relates to bending the cost curve on health care and focusing on the vast inefficiencies, the fraud, the abuse and the waste that totals more than $750 billion annually? as for the chairman from my district said, list, it would be a way for us to bring down the deficit but also make health care affordable, accessible and functional for the american people. something i believe we must do. with that let me introduce the chair in waiting, javier becerra. >> mr. chairman, thank you very much. it's been a pleasure serving with you as our chairman of the caucus. december, how many families do you know that are sitting down right now trying to do some quick math on their finances and figure out how they can stay on their budget and have a little left over to buy gifts for the kids and for the loved ones so it will be a merry christmas, great holiday for all of america's families? they don't have any choice but to fig
way. it's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bear bones competence and middle school-level maturity. so is there a deal? >> there's, of course, no deal. >> of course! is there a prospect for a deal? >> there's not a prospect for a deal. >> of course! but the ongoing talks. >> there aren't even very many talks going on. >> you're killing us! give us something. >> but for the first time, there are numbers on pieces of paper from both sides. >> numbers on paper! >>> good morning. it's wednesday, december 5th. welcome to "morning joe." live in the nation's capital. this is exciting. and you know, i said, let's do a show from washington, d.c., because they get so much stuff done there. it's like silicon valley. and going there when steve jobs was really bringing apple to the forefront -- >> a happening place. >> it is. it's where things happen. that's why we're here, steve rattner. >> washington is the place. with us on set, economic analyst steve rattner. also political editor and white house correspond
the right solution for solving our issues of middlele class tax cuts and the fiscal deadline and make sure we move in a very positive direction. with that i yield back my time. the speaker pro tempore: the gentlelady yields back. the gentleman from texas. the gentleman reserves. the gentleman from michigan. mr. conyers: mr. speaker, we have no further speakers. i am prepared to return the balance of our time. the speaker pro tempore: the gentleman. mr. smith: we have no further speakers on this side. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the question is, will the house suspend the rules and pass bill h.r. 6620. so many as are in favor say aye. those opposed, no. in the opinion of the chair, 2/3 of those voting having responded in the affirmative, the rules are suspended, the bill is passed, and without objection the motion to reconsider is laid upon the table. for what purpose does the gentleman from texas seek recognition? mr. smith: mr. speaker, morph that the house suspend the rules and pass h.r. 6602, to make revisions in title 36, uni
and that is taxes and spending. more specifically the desire of the president as understand, governor, was to have a capital gains tax cut. but the democrats will only agree the overall rates were increased no such agreement could be reached and democrats retreated on the rate increases while selling for a limitation of tax deductions for higher income. i will give the recollection of the 1990 budget its pros and cons but more importantly what lessons from that experience can be applied today. i'm sure they will want to interact with each other. after opening comments you want to make and if time permits we will certainly opened up to you and the audience for any specific questions you might have to be i'd like to speak with the honorable former chief of staff at this time mr. sununu. welcome and thank you and we look forward to your views. >> thank you very much. [laughter] >> i think this is a very interesting coincidence in history and time to have us here discussing the 1990 budget agreement in what is happening today and i want to write from the beginning acknowledge what i believe was the ve
. >> but will they actually cut taxes on the rich? not raise them, cut them. they wouldn't do that, will they? you are about to find out. >> republican goes after susan rice. >> absolutely it was wrong. >> here's what i can tell you. the american people got bad information on 15 september. >> some surprising opinions on that. stay right here for that, as well. then a movie about how we got bin laden but did they get classified information? that's a new controversy. >> you think you know the story but hold on to your seat. >> it's a huge controversy. an investigation was begun about you receiving classified material. >> who's guilty, who's innocent? we decide here on the "young turks." also, the man who created pulp fiction, kill bill, inglorious bass starteds on the set today. and republican on republican crime, elbow of the day. go time. [ ♪ theme ♪ ] >> cenk: david pluck is one of the to which advisers for president obama. he's talking about what they're going to do in regards to the grand bargain and he says some things that are very, very interesting, revealing exactly what we had feared was going o
it to sign this bill so people's taxes don't go up. >> the adult in the room continues his campaign to cut taxes for the middle class, and john boehner keeps shooting spit balls. >> it was not a serious proposal. >> tonight the latest on the stalemate and the democrats' upper hand. mitch mcconnell gets downright ridiculous with his demands to weaken medicare. one of the architects of obama care dr. zeke emanuel responds tonight. >>> house republicans pass an immigration bill democrats say is divisive and inferior. today, congressman javier on why the latino community won't be fooled. >>> the nation's first fast food strike is a historic protest for workers' rights. tonight, what you need to know about the lowest paid workforce in the country. >>> good to have you with us tonight, folks. thanks for watching. president obama knows his opponent is on the ropes and he's not letting up. the president took his tax plan agenda on the road today. he went to a philadelphia, pennsylvania, toy factory just north of philadelphia to focus on the people who will be hurt if the tax rate extensions are no
tax cuts hostage simply because they refuse to let the tax rates go up on the wealthiest americans. >> the republicans call this a bait and switch. >> alisyn: we'll debate. >> dave: one massachusetts town rolling out the welcome mat to long islanders for christmas tree lighting after the they refused to budge on the holiday event. the p.c. please. >> should you tip your garbage collector or how about your child's teacher? we have tips for tipping or the barista at starbucks. >> dave: no! sorry, ladies and gentlemen. >> "fox & friends" begins right now. ♪ >> are you supposed to tip the teacher. >> dave: some are, some are not. >> you want to err on the side of tipping and is it too much. do you tip the garbage man or the postal employee. you leave a bunt cake outside. >> alisyn: yes, money. they want money. >> dave: we'll get into it later, but it's tough because it used to be you tip someone for extraordinary service. >> alisyn: right. >> dave: now you just tip someone please. >> alisyn: so they don't egg your house, that's why you're tipping. >> and go to ff weekend and fire it
. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising taxes on the rich, the president is ready to go off the cliff. >> right now i'd say we are nowhere, period. nowhere. >> john boehner declaring a stalemate in an exclusive with fox, as republicans teed off on president obama first offer that included new spending plus 1.6 trillion in tax hikes. totally unacceptable. >> i think we are going over the cliff. it's clear to me they made political calculation. white house officials insisted disaster could be amended and demanded a counter offer on the table. >> what we hope for is specificity from the republicans. >> an hour later, boehner did that. oftenning $800 billion in new tax revenue without raising rates. half what the pr
. bill: democrats upping the ante, looking to raise taxes, protect entitlements and raise the debt ceiling all at the same time. stuart varney, hello, there, sir. you think there has been a shift in those negotiations. >> i don't mean a shift in position. i mean a shift in focus, what they are focusing in on on the last couple days it's been taxes now it seems to be we are focusing in on entitlements and spending cuts. the democrats and the republicans are presenting a united front saying no cuts to entitlement. no entitlement reform. the unions have an ad campaign saying don't touch entitlements. the president campaigner in chief saying the same thing. he put no entitlement reform front. a unified front on entitlements. bill: we did two hours of television yesterday. i saw a story that was as far apart from coming to agreement as is possible. do you see any give between these two sides? >> i saw a statement from senator dick durbin generally considered on the left of his party, he's saying, nobody should be so naive as to believe that just taxing the rich will solve our problems.
confidence, which would help economic growth. punishing success will not do that. temporary tax increases don't do that as well. >> greta: it's interesting, almost seems like a game of chicken to see who's going to blink first. i listen to what you say, and i understand it, i understand the broad principles, but i don't have the nuts and bolts of it. and i hear the president say he's ready, willing and excited to have bipartisanship, but i don't know what his plan is either. >> again, his budgets, four budgets, yet to propose a solution to save social security or medicare. can't even get democrats or house senators to vote for his plan. we haven't seen his plan. that's a real tragedy. the president, it's incumbent on him. he won, time for him to govern, show the american people his balanced plan. he talked about it all the time. we know where he wants to increase revenue. he raised revenue about $75 billion, but where's he going to get the other 93% of deficit reduction? really what is his plan for restoring growth to the economy? miserable economic growths under his policies. >> greta: we're
, alphonse demat tow filibuster in 1992 over an extremely obscure provision of tax law that he thought was going to screw over new yorkers. rich, you wanted to reresponsibility quickly before i go to the senator. >> yes. i wanted to say i'm not a professor of constitutional law, but i can read the plain language of section 5 which says that the senate gets to write its own rules, and rules about debate, the length of debate are well within that constitutional competence of the senate. >> sure. and it gets to majority rule, by majority rule. this document. >> that brings us to the constitutional option which is to say at the beginning of a senate they adopt the rules and they can by a majority of rules. i want to bring in jeff merkley. senator, good morning. you are not trying to scrap the filibuster. tell me what your goal is in the reforms that you have proposed. >> yes. we're trying to make the filibuster actually work the way it was intended. that is, that folks have to make their case known before their colleagues, before the american public. that they can't simply obstruct, use a
that calls for $1.6 trillion in new taxes, calls for a little, not even $400 billion in cuts and they want to have this extra spending that's actually greater than the amount they are willing to cut. it was not a serious proposal. right now, we are almost nowhere. >> oh, mr. boehner, you have got it all wrong. it is a serious proposal, really serious. godfather serious. >>> watching the d.c. drama convinced those of us in nerdland that president obama must be a fan of the francis ford copel la masterpiece. remove the lethal components and there are valuable negotiating lessons that the president seems to be picking up on, like this one. >> my father taught me many things here. he taught me in this room. he caught me keep your friends close but your enemies closer. >> well, president obama keeping his opponents close in hand. lunch with mitt romney. a mid-week summit with the business leaders that supported romney. the ceos of marriott, at&t and state farm. of course, meeting, after meeting, after meeting with speaker, john boehner and republican leaders. with this strategy, president obama
in the cabinet for president nixon. i am personally kind of disappointed that bee are talking about tax rates for the rich. >> steve: campaign. >> brian: what about the middle class people standing in the back drop as they need a break and the president urging for something to be done yesterday and there is no scheduled meetings with john boehner. >> gretchen: it is annoying to see just a campaign. how many people are tired of a campaign speech. why not come to the table and figure it out. i don't understand it. >> steve: at this point, both sides know what they will give up. what their concessions will be. they don't want to go first. we are 33 days away from the official fiscal cliff and sailing off of it . in the washington post they describe a sense much gloom descending over the capitol, bowles meet and he sees one and three chance of an agreement before january. but mr. bowles had met with the president the day before and president had flexibility about that higher tax rate. he wants 39.6 percent. maybe he would take 36, seven,. >> brian: or raise the thres hold. >> gretchen: why would
tax bracket as of yet. there's no mustard on there, is there? i'll see you in a little bit, mr. barnicle. thank you, john. "morning joe" starts right now. >>> i think they won the election. they must have forgotten that republicans continue to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground, and we need to find it quickly. >> good morning. it's monday, december the 3rd here in new york city. the christmas tree all lit up. with us on set, msnbc contributor mike barnicle, pulitzer prize-winnering historian jon meacham, author of "thomas jefferson." "fortune's" assistant managing editor leigh gallagher and political analyst, former chairman of the rnc, michael steele. and i'm willie geist. joe and mika have the day off today. there's so much to talk about, but we do have to begin with the ties, if we could. it's not just mike. mike's getting all the focus here this morning, and that is inexcusable. >> could i just say, in the words of speaker john boehner, we need to find common grou
, is on middle class taxes. and as i've said before, we've got two choices. if congress does nothing, every family in america ll see their tacks automatically go up at the beginning of next year. starting january 1st, every family in america will see their taxes go up. a typical middle class family of four would see its income taxes go up by $2200. $2200 out of people's pockets. that means less money for buying grocery, less money for filling prescriptions, less money for buying diapers. it means a tougher choice between paying the rent and paying tuition and middle class families just can't afford that right now. by the way, businesses can't afford it either. yesterday i sat down with some small business owners who stressed this point. economists predict that if taxes go up on the middle class next year, consumers will spend nearly $200 billion lesson things like cars and clothes and furniture and that obviously means fewer customers, that cuts into business profits, that makes businesses less likely to invest and higher which means fewer jobs and that can drag our entire economy down. now
a middle class tax cut as first part of any deal. and he linked republicans to scrooge today while touring a pennsylvania toy factory. listen. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. every family, everybody here, you'll see your taxes go up on january 1st. i mean, i'm assuming that doesn't sound too good to you. that is sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> that's pretty scroogy, right? president obama's proposal calls for $1.6 trillion in new tax revenue. $50 billion for new stimulus spending. and about $400 billion in entitlement cuts. republicans say, the president's proposal's nothing but a political stunt. here is boehner. >> the white house spends three weeks trying to develop a proposal and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not even $400 billion in cuts, and they want to have this extra spending that is actually greater than the amount they're willing to cut. i mean, it is -- it was not a serious proposal. and
spending her hard-earned tax dollars like water, running trillion-dollar deficits year after year. she's angry and she has every right to be angry. so what are we going to do about it? lately we've heard a lot of talk about raising revenues, but not nearly enough talk about bringing the federal government down to the right size, about matching spending to the resources we have, about balancing the federal budget. oh, we hear about a balanced approach, but that's just a way of saying we need to increase taxes. actually, we don't need to increase taxes. the best thing we could do would be to not increase taxes. the best thing we can do is to raise revenues by making our economy as healthy and strong as it can be. that means we need to help our businesses grow and hire. that's become way too hard to do in the past couple of years. a businessman in duchess county, new york, said he's going to have to limit the number of employees he has to less than 50 so he won't be subject to penalties under the 2010 health law. so right now the federal government is keeping him from offering jobs. that
and tax increases if negotiations break down. and both sides of the aisle are going straight to the public in order to plead their case, or rather tell us why the other side is to blame. this is president obama in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans onboard, i'll sign this bill as soon as congress sends it my way. but it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes th s hostage metaphor one step further and brings to mind a memorable movie scene. >> unfortunately, some on the other side of the aisle are offering a disastrous thelma and luiz strategy that would take us over the cliff, putting millions of middle class families and our already weakened economy in further jeo
of the fiscal cliff negotiation. after that, joe shaw looks at the estate tax, which is set to go up the end of the year plus, your e-mails, phone calls, and tweets. "washington journal" is live at 7:00 a.m. eastern on c-span. now come in a discussion of how the military and national security might be a affected by spending cuts at the first of the year. part of the so-called fiscal cliff. former chairman of the joint chiefs of staff, mike mike mullen, was joined at how services committee. this is a less than an hour. >> good afternoon. thank you for coming. my name is peter peterson. i would like to give you a review of why we are supporting this project today. starting about 30 years ago, after studying the profound demographic trends, on the vast and unfunded promise we have made. i have decided was not unsustainable, but a primary threat to the future. speaking of unsustainable, in the nixon white house in which i served, the chairman of the council, if something is unsustainable, he says it continues to stop. or if you don't like that, if your worst eyes, i suggest that you does not dis
cliff. the across-the-board spending cuts and sharp tax increases that hit in just 29 days. let's get straight to our senior congressional correspondent dana bash. she's watching what's going on. dana, the tax rates, first of all, let's get to a major sticking point right now. there's been a counterproposal from house republicans to the white house. you have details. >> reporter: that's right. let's start exactly where you just began on those tax rates because that has become the big divide between the two sides. the answer is the house republicans are not budging. they still want to continue the bush era tax rates at all income levels. let's get specific. first of all, the counterproposal, they say they would get about $800 billion in savings from what they call tax reform, from deductions and closing loopholes, things like that. but the bush era tax rates, all of them would remain, even for the wealthiest. to show you the difference, compared to the white house offer that they got last week, $1.6 trillion in savings when it comes to tax revenue. but much of that came from raising ta
taking the wheel of talks to avert the january tax hike. that's a senate side of the capitol. here's treasury secretary geithner emerging in to the shadows. there he is right there. about to pay a call on house speaker john boehner. speaker boehner a key republican and after his meeting with geithner this morning, boehner said these urgent talks haven't moved forward in two weeks. keep in mind, they need to get it done by january 1st and here's boehner getting grumpy with cnn's kate baldwin. take a look. >> to this point, most -- most public statements have been optimistic, confident, hopeful. we're all sensing a very different tone from you right now. are you walking away from talks? have things completely broken down, mr. speaker? >> no, no, no. stop. i got to tell you. i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious, as well. >> all right. so once again, here are the cliff notes ri
position that we talked about yesterday, and that would force a vote for the bush tax cuts. the new "washington post" pugh research poll say 58% of those asked say it would be the republicans fault if we go over the fiscal cliff. and that shows all this back and forth isn't doing house gop any good. we're back after the break. alright, in 15 minutes we're going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out. they can question whether i'm right, but i think that the audience gets that this guy, to the best of his ability, is trying to look out for us. rich, chewy caramel rolled up in smooth milk chocolate. don't forget about that payroll meeting. rolo.get your smooth on. also in minis. [ male announcer ] red lobster's hitting the streets to tell real people about our new 15 under $15 menu. oh my go
will be able to reach a deal before the tax hikes and spending cuts kick in just 33 days. it is going to look bad for congress if they cannot get this done and some republicans are saying it's time to give in. politico's also reporting oklahoma representative tom cole told his g.o.p. colleagues yesterday to move forward with the president's he plan to extend the tax breaks for everyone except the top 2%. cole said that he does not agree with raising taxes for anyone but that it is time to take care of the majority of the american people first and fight for the wealthy later. that bill made it through the senate back in july but it still has not made it through the house. we're right back. you're about to watch an viewer created ad message for little caesars who proudly salutes united states veterans everywhere. >> clarksville is a small town on the tennesse/kentucky boader and it is a really great place to raise a family. my name is lloyd allard i was a chief officer in the special forces, i was in the army for 23 years. i have made 1400 parachute
and we are hearing the administration released a budget that includes a trillion dollars in tax hikes. peter doocy is live in washington with the latest. >> treasury secretary geithner was tasked with bringing the white house proposal over to capitol hill and republicans are not happy that it includes 1.6 trillion in new taxes. a trillion of that coming from the expiration for bush tax cuts for americans making over $250,000 a year. and a stimulus package worth $50 billion in 2013 alone. and 400 billion in spending cuts and those would come later. that is not enough for the republicans. >> i am disappointed in where we are and whoooose happened over the last couple of weeks. going over the fiscal cliff is serious business. and i am here seriously trying to resolve it and i would hope that the white house would get serious as well. a congressional republican aide said the only changes in the entitlement come from the president's budget that was voted down by the u.s. senate 99-zero and zoro democrats supported it. the white house said it is the republicans and their refusal to ask high
a short-term agreement right now and then pushing important decision abouts entitlement reform taxes that kind of stuff into 2013. clearly we're not confronting a killer drop off, a fiscal cliff that we hear so often that will send the country careening into a recession after bees december 31st. this will play out across 2013. it's not going to happen all on one single day. it is a fiscal slope. some of the budget lines here in washington has tried to emphasize that point. but the problem is when you have john boehner and in the white house, folks like this in washington using the term fiscal cliff, it takes to become a reality and take on language of its own. >> eliot: it seems to me that there is an element of hysteria being created and used by some folks. you have fix the debt coalition that is pounding away at this terror, and then you see cmbc and this business interest. then they come in and ask for a huge cut in corporate taxes. one doesn't follow the other. is this an element of a trojan horse being used by folks to ramp up hysteria, and then get policy changes that aren't ev
. 2012] >> president obama talks about u.s. tax policy. the tax cuts that will expire at the end of this year. then, senator orrin hatch from utah gives the republican address on the fiscal cliff which refers to automatic tax increases and spending cuts that would go into effect in 2013. >> hi, everybody. i'm here on the factory floor of a business in hatfield, pennsylvania, where folks are working around the clock making toys to keep up with the christmas rush. and i came here because, back in washington, the clock is ticking on some important decisions that will have a real impact on our businesses - and on families like yours. the most pressing decision has to do with your taxes. see, at the end of the year, middle-class tax cuts are set to expire. and there are two things that can happen. first, if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle class family of four will see their income taxes rise by $2,200. we can't let that happen. our families can't afford it, and neither can our economy.
are before us. tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican, is to get the american economy going. to put it back in gear. and there are many reasons beyond just employment and the opportunities that family have -- families have to make it. one of the critical elements in all of this is to protect americans. we recently saw superstorm san joaquin smash into -- sandy smash into new jersey and new york with devastating results. loss of life, incredible loss of property, both public and private, and a very, very big cleanup bill. joining me in a little while will be some of our representatives from the state of new york. and they'll talk about that in detail. but before sandy ever hit the co
of spending cuts and tax hikes. it's set to welcome us all on january 1st if they don't have an agreement. i'm jenna lee. jon: some kind of welcome that would be. i'm jon scott. within hours of seeing the proposal the white house slammed the g.o.p. offer saying quote their plan provides nothing new and provides no details on what deductions they'll limb nature, loopholes they will close or which medicare savings they would achieve. house speaker john boehner inc insists his offer is the best one on the table calling it a credible plan that deserves serious consideration by the white house. jenna: mike emanuel is with us. certainly a challenge to find this ideal plan. what is holding it up. >> reporter: the chairman of the senate budget committee wants a large come proceed hence i have deal in the range of $5 trillion and says a grand bargain can get done if everybody kaoels cool and doesn't overreact to every valley over the net. he this is a camp david-style summit might help things move around. a senate republican told greta van susteren it's time to be honest about retirement benefits. >>
facility. the president's visit would highlight the impact that the taxes would affect the season. it's all to garner public support and back republicans into a corner as fiscal cliff negotiations continue. tim geithner went up to the hill yesterday and laid out the president's offer. this is what it looks like. the goal is to get to $1.6 trillion in revenue. letting the tax cuts expire for the top 2% and then raise capital gains. that would bring in $196 billion. and then the tax code over overhaul, and extension of unemployment benefits and more stimulus spending. republicans for their part dismiss the offer immediately calling it unbalanced, and unreasonable. so the question is what kind of leverage do republicans have at this point? talking points memo notes that they do have control over whether or not we raise the debt ceiling which is something we have to do in the next few weeks or so. while it does not factor into the mass that is considered right now it does give house speaker john boehner program cuts like entitlement cuts back into the conversation. we're back with the show stay
on huckabee. republicans say the president will not budge. raising tax instead of a balanced approach instead of cutting spending is wrong. >> is the president serious about avoiding the fiscal cliff allen webb resphond. >> my homeowner insurance offered me $150 what can i do with that? >> they lost the home and business and sense of security. victims of super storm sandep ho on how they are coping. >> who can throw their hate in the ring for 2016. ladies and gentlemen. our guest host tonight dana preno. [ applause ] ♪ >> welcome to huckabee. i am dana pereno and i want to thank governor huckabee to have me guest host. it is it a month since the presidential election and half of the country is elate vindicate they voted for president obama and walking on cloud 9. the other half not so much. they are confuse despondant and sleepless. they wonder if the nation has gone mad and want to return to common sense not another four years on fantasy island. we are taught as kids to be good sports man and not gloat and give the other side high 5 and say good game. have we seen much much that. nope. bei
a deal to avoid the so-called fiscal cliff. a huge package of tax hikes and spending cuts will kick in january one. they spent time blaming each other for not getting serious. in his weekly address, president obama says he is ready to make a deal but wouldn't accept continued tax cuts for the wealthiest people. >>> the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans on board, i'll sign this bill as soon as congress sends it my way. but, it is unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the richest americans. >> republicans say tax hikes on the wealthy mean tax hikes for small businesses, something they insist they cannot accept. here is long-time gop senator orin hatch. >> unfortunately, some on the other side of the aisle are indicating a disastrous thelma and louise idea, that will put us in jeopardy, for small business and other parts of the e
for states because, of course, you have to pay taxes on any of your winnings. so with the lot he commission increasing the price was generate revenue. they did and wow they will with this jackpot of $500 million. >> alison, did you buy a ticket? >> reporter: oh, no, i have no problem admitting it. i will go ahead and buy a few tickets of my own. >> good luck to you. thank you. we'll talk to you soon. >>> the other big story this morning, if at once you don't succeed, try, try again. susan rice, the u.n. ambassador returns for a second round of meeting with republican senators. rice failed to win over her sharpest gop critics yesterday still troubled about her comments following the u.s. attack in the u.s. consulate in benghazi that spring from a protest. she told "ac 360" that rice misled the american public. >> she would say that. she would have to say that because she began our meeting today admitting the representations of the video and the protests were wrong. and the impression left the american people misleading. >> senators graham and mccain are now more concerned than before they me
cliff if republicans don't agree to tax hikes on the richest americans. and so we welcome peter alexander, at the ranks of the white house correspondents, with a look at all of it. >> reporter: brian, good evening, on the north lawn, the phone call marks the first time speaker john boehner and the president spoke in a week, that is hardly something to celebrate, but they wouldn't characterize what they discussed in the phone call as the country barrels towards the fiscal cliff. with no talks and no progress to avert the looming fiscal cliff, you could say the house has left the building, streaming out of the capitol. tomorrow's session cancelled. with only three work days left this year, they are often criticized. just 16 votes. across the country, rising frustration, americans asking why the holdup. and what will their taxes look like in 2013. >> maybe instead of getting my sister two things, you give one thing, you have to give pause on what could happen next year. >> reporter: today, president obama and house republicans are locked in a political stare down. with neither side
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